RES NO 49-1974 RESOLUTION NO. 49 -74
A RESOLUTION OF THE URBAN RENEWAL COMMISSION OF THE CITY OF VAN BUREN,
ARKANSAS, AUTHORIZING AND APPROVING PUBLIC OFFERING OR AGENCY -OWNED PROPERTY.
FOR PRIVATE REDEVELOPMENT, IDENTIFYl.NG THE DISPOSAL. LAND, AND ESTABLISHING
A MINIMUM ACCEPTABLE PRICE ON EACII PARCEL.
WHEREAS, the Urban Renewal Agency of ciie City'of Van Buren, Aikansas has
entered into a loan and capital grant contract with the United States
of America providing for financial aid to th under Title 1 of the
Housing Act of 1949, as amended by all amendatory acts including Lite
Housing Act of 1954; and
WHEREAS, the Urban Renewal Plan and the application for the loan and grant
contract specifies that the Urban Renewal. Agency will acquire certain prop"crtlen
within the Neighborhood Development Program Area and that such properties wtlI.
be disposed of by sale for private redevelopment; and
WHEREAS, a Land Disposal Procedure has been determined by the Urban Renewal
Commission to be the appropriate method of making the land available for sale
for private redevelopment; and
WHEREAS,the Urban Renewal Agency has determined the minimum acceptable sale
price of each parcel of land based on values assigned by two separate
and independent appraisals; and
WHEREAS, this minimum acceptable sale price has been determined to be no
less than the fair value of the land for uses in accordance with the Urban
Renewal Plan for the Neighborhood Development Program Area, Project Ark. A 23, NDP.
NOW, THEREFORE, BE IT RESOLVED BY THE URBAN RENEWAL CO ?ISSION OF THE
URBAN RENEWAL AGENCY OF THE CITY OF VAN BUREN, ARKANSAS:
4 I,
That the following method of land disposition for parcels planned for
private redevelopment be authorized and approved;
(1) That the parcels owned and to be disposed of by the Agency for
private redevelopment will be placed on the market. All parcels will be offered
for sealed bid only with individual bids being accepted on each parcel.
(2) The minimum acceptable price on each parcel will be the concurred -in
price established by the Department of Housing and Urban Development and the
Federal Housing Administration. This price•will also be the minimum acceptable
bid on each parcel.
(3) Each bid must be accompanied by a deposit of ten (107,) percent of the
total amount bid and be in the form of certified check or cashier's check made
payable to the Urban Renewal Agency of the City of Van Buren,
II.
That sale of the following described parcels of land located within the Crawford
County and the Neighborhood Deveeopment Program Area to the highest bidder at or
above the minimum acceptable price, as listed by each described parcel be authorized;
III.
That the Attorney for the Urban Renewal Agency of the City of Van Buren be
authorized and directed to prepare the necessary deeds of conveyance and other
documents and instruments necessary to complete the conveyance and dedication of ouch
described properties from the urban. Renewal Agency of the City of Van Buren to
the successful bidder after the Urban Renewal Commission has authorized
acceptance of the bid by Resolution;
TV.
That the Chairman of the Urban Renewal Agency of the City of Van Buren. is
'authorized and directed to enter into all such deeds of conveyance, documents
and instruments necessary to complete the conveyance and dedication of such described
properties;
V.
That the Secretary attest the signature of the' Chairman to such deeds of
conveyance, documents or instrument.
PASSED AND APPROVED BY THE URBAN RENEWAL COMMISSION OF THE URBAN RENEWAL
AGENCY OF THE CITY OF VAN BUREN, ARKANSAS, this the 22nd day of July, 1974.
0 ATTEST:
Secietary Chairman
Urban Renewal Agency of the City
of Van Buren
APPROVED AS TO FORM:
Attorney
Approved by the City of Van Buren, Arkansas on'the 9th day of September, 1974.
(c (7
Mayor.
ATTESTED:
441P
P r e
City Clerk